As many as 5.91 crore people have been enrolled under the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and 15.47 crore people enlisted under the Pradhan Mantri Suraksha Bima Yojana (PMSBY) since the launch of the two social security schemes in 2015, Union Finance Minister Nirmala Sitharaman said in the Lok Sabha on Monday.
The minister said that for creating a universal social security system for all Indians, especially the poor and the under-privileged, Prime Minister Narendra Modi launched the two schemes in the insurance sector on pan-India basis on May 9, 2015 in Kolkata.
"As per information furnished by banks, 5.91 crore people have been enrolled under PMJJBY and 15.47 crore people enrolled under the PMSBY as on March 31, 2019," she said during the Question Hour.
The PMJJBY offers life insurance cover of Rs 2 lakh in case of death due to any reason to people in the age group of 18-50 years having a bank or post office account, who give their consent to join or enable auto-debit of premium of Rs 330 per annum.
The PMSBY offers insurance cover of Rs 2 lakh for accidental death or total permanent disability and Rs 1 lakh for partial permanent disability to people in the age group of 18-70 years with a bank or post office account, who give their consent to join or enable auto-debit of premium of Rs 12 per annum.